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Oct 14, 2012
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ronald reagan proposed sweeping tax rate reduction and the result revenues up 99%. biden: we made sure we cut taxes for the middle-class. gerri: not even close to trooper release seven taxes from obamacare ball directly on the middle class. the tax for not having health care insurance. obamacare taxed the ma in the name of flexible spending account in those to deduct from taxes. i could go on and on. joe biden scored big points claiming hedgefunds would benefit. biden: 90% of small business america make less than $250,000. others are hedge funds making $600 billion per year that counts as the small business. gerri: hedge fund? the irs says they fall within the household of the top two brackets that the administration wants to raise taxes. and more than half of americans. vice president wants to raise taxes on small business. paul ryan does not. beau biden says the plan worked anybody knows the numbers knows it is not true. the federal deficit on track to hit $1 trillion for the fourth year in a row. the administration does not have a lot of bragging rights. 15% on f
ronald reagan proposed sweeping tax rate reduction and the result revenues up 99%. biden: we made sure we cut taxes for the middle-class. gerri: not even close to trooper release seven taxes from obamacare ball directly on the middle class. the tax for not having health care insurance. obamacare taxed the ma in the name of flexible spending account in those to deduct from taxes. i could go on and on. joe biden scored big points claiming hedgefunds would benefit. biden: 90% of small business...
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Oct 13, 2012
10/12
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jack kennedy, ronald reagan. biden: now your jack kennedy? gerri: that was a cheap shot. bided was wrong when he claimed lower tax rates never had higher revenues. 1920's were slashed from 70% down a 20%. there rose 60%. kennedy cut across the board with the top rate down at 70%. tax revenues jump. ronald reaganproposed sweeping tax ratereduction and the result revenues up 99%. biden: we made sure we cut taxes for the middle-class. gerri: not even close to trooper release seven taxes from omacare ball directly on the middle class. the tax for not havi health care insurance. obamacare taxed the many in the name of flexible spending account in those to deduct from taxes. i could go on and on. joe biden scored big points claiming hedge funds would benefit. biden: 90% of small business america make less than $25000. others are hedge funds making $600 billion per year that counts as the small business. gerri: hedge fund? the irs says they fall within the hsehold of the top two brackets that the administration wants to raise taxes. and more than half of americans. vice presiden
jack kennedy, ronald reagan. biden: now your jack kennedy? gerri: that was a cheap shot. bided was wrong when he claimed lower tax rates never had higher revenues. 1920's were slashed from 70% down a 20%. there rose 60%. kennedy cut across the board with the top rate down at 70%. tax revenues jump. ronald reaganproposed sweeping tax ratereduction and the result revenues up 99%. biden: we made sure we cut taxes for the middle-class. gerri: not even close to trooper release seven taxes from...
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Oct 12, 2012
10/12
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. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack kennedy line generated 58,000. the minute it was by far the most tweeted remark. over all though the debate didn't create as much traffic as the presidential one 10.3 million tweet. >> president obama and mitt romney meet in their second doe bait next tuesday in new york this one will be town hall meeting format. we'll carry it live starting at 6:00 p.m. >>> all right. you may know heart break in oakland tonight. unfortunately the a's incredible run in the play offs comes to an end. >> couldn't pull off a win in the game 5 of the series and larry is here now. >> kind of a bumper. especially after last n
. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack...
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Oct 13, 2012
10/12
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. >> look at what mitt romney--look at what ronald reagan and tip o'neill did. >> michael: i mean, as my friend cenk uygur would say, of course! the reagan defense. they've relyied on drawing a comparison to ronald reagan as well as one other president. >> it's been done before. >> it's never been done before. >> jack kennedy lowered tax-- >> now you're jack kennedy. >> if jack kennedy only knew how much he would come up in vice presidential debates i think paul ryan knew where that was going. i'm joined by erol lewis and thomas frank, thank you for sticking around and talking to us. you know in looking back at this it really taxes the way that they come up in these debates. the thing they're not talking about are mitt romney's taxes. the idea that they can look back and talk about taxes and ryan still getting caught with these lies and then the next day saying that's exactly what we meant to say. how does this work, errol. >> a promise has been made. a big broad promise has been made to splash taxes. it's estimated by a reasonable objective source that this could cost treasury 5 tril
. >> look at what mitt romney--look at what ronald reagan and tip o'neill did. >> michael: i mean, as my friend cenk uygur would say, of course! the reagan defense. they've relyied on drawing a comparison to ronald reagan as well as one other president. >> it's been done before. >> it's never been done before. >> jack kennedy lowered tax-- >> now you're jack kennedy. >> if jack kennedy only knew how much he would come up in vice presidential debates i...
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Oct 12, 2012
10/12
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. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack kennedy line generated 58,000. the minute it was by far the most tweeted remark. over all though the debate didn't create as much traffic as the presidential one 10.3 million tweet. >> president obama and mitt romney meet in their second doe bait next tuesday in new york this one will be town hall meeting format. we'll carry it live starting at 6:00 p.m. >>> all right. you may know heart break in oakland tonight. unfortunately the a's incredible run in the play offs comes to an end. >> couldn't pull off a win in the game 5 of the series and larry is here now. >> kind of a bumper. especially after last n
. >> robbed reagan. >> now you are jack kennedy. >> ronald reagan. >> plenty of heat. biden showed more emotion tonight and personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack...
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Oct 13, 2012
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. >> ronald reagan -- >> now you're jack kennedy? >> ronald reagan -- >> "now's" terri o'neal on the romney ticket's disaster for women. >> if the romney/ryan ticket is elected should those that believe abortion should remain legal be worried? >> david cay johnston on ryan's sixth study lie. >> can you guarantee this math will add up? >> absolutely. six studies have guaranteed. >> and what's more disrespectful? lying to america or interrupting a guy who's lying to america? >> it was openly contemptuous and disrespectful. >> karen finney on the right wing freak-out over joe biden's knockout performance. >> ever felt that way where you just want to deck somebody? >> an obnoxious drunk. i think somewhere during the debate he took ridlin. >>> good to have you with us tonight, folks. thanks for watching. what did we see? we witnessed a schooling on the issues by vice president joe biden last night. it really was the shot in the arm the democrats and the progressives were hoping for. after watching mitt romney get away with lie after lie l
. >> ronald reagan -- >> now you're jack kennedy? >> ronald reagan -- >> "now's" terri o'neal on the romney ticket's disaster for women. >> if the romney/ryan ticket is elected should those that believe abortion should remain legal be worried? >> david cay johnston on ryan's sixth study lie. >> can you guarantee this math will add up? >> absolutely. six studies have guaranteed. >> and what's more disrespectful? lying to america or...
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. >> ronald reagan -- >> reporter: at the end, each man summed up and both chose to attack. >> my friend says that 30% of the american people are takers. romney points out 47% of the people won't take responsibility. he's talking about my mother and father. talking about the places i grew up, my neighbors. he's talking about, he's talking about the people that built this country. all they're looking for is an even shot. >> president obama, he had his chance. he made his choices. this is not what a real recovery looks like. you deserve better. mitt romney and i want to earn your support. we're offering real reforms for a real recovery for every american. >> at least it was a lot better watch than the romney/obama. meanwhile hashtag mularkey is trending nationwide. and martha raddatz has received 80,000 twitter mentions, some saying martha for vice president. >>> next, our political insiders are going to tell us who made the grade tonight. [ feedback ] attention, well, everyone. you can now try snapshot from progressive free for 30 days. just plug this into your car, and your good driving
. >> ronald reagan -- >> reporter: at the end, each man summed up and both chose to attack. >> my friend says that 30% of the american people are takers. romney points out 47% of the people won't take responsibility. he's talking about my mother and father. talking about the places i grew up, my neighbors. he's talking about, he's talking about the people that built this country. all they're looking for is an even shot. >> president obama, he had his chance. he made his...
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Oct 13, 2012
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. >>> it is a question posed by candidate ronald reagan. over three decades ago. >> are you better off than you were four years ago? >> and it's a message the candidates are still actually using today. >> the president has no record to run on. in fact, every president since the great depression who asked americans to send them into a second term could say that you are better off today than you were four years ago, except for jimmy carter and for president barack obama. >> if people think they're better off, i would say, well, take a look at the numbers when it comes to median household income, which is down every year for the last four years. >> the obama administration, however, is taking the other side. >> you want to know whether we're better off. i got a little bumper sticker for you. osama bin laden is dead and general motors is alive! >> bloomberg business week took a look at that very question in this week's election issue asking about the price of your food, the value of your home and your paycheck. staff writer took the question to
. >>> it is a question posed by candidate ronald reagan. over three decades ago. >> are you better off than you were four years ago? >> and it's a message the candidates are still actually using today. >> the president has no record to run on. in fact, every president since the great depression who asked americans to send them into a second term could say that you are better off today than you were four years ago, except for jimmy carter and for president barack...
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. >> robbed reagan. >> now you are jack kennedy. >>onald reagan. ronald reagan. >> plenty of heat. biden showedt and more emotion tonighd personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now you are jack kennedy line generated 58,000. the minute it was by far the most tweeted remark. over all though the debate didn't create as much traffic as the presidential one 10.3 million tweet. >> president obama and mitt romney meet in their second doe bait next tuesday in new york this one will be town hall meeting format. we'll carry it live starting at 6:00 p.m. >>> all right. you may know heart break in oakland tonight. unfortunately the a's incredible run in the play offs comes to an end. >> couldn't pull off a win in the game 5 of the series and larry is here now. >> kind of a bumper. especially after last
. >> robbed reagan. >> now you are jack kennedy. >>onald reagan. ronald reagan. >> plenty of heat. biden showedt and more emotion tonighd personality but i think who you believe won the debate? probably depend on your political point of view unless you include abc martha. she was clearly the best moderator so far. fichlt thanks. social media came alive tonight as well as the two candidates duke it out. twitter says the debate generated 3 and half million tweet. biden now...
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Oct 12, 2012
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>> ronald reagan. >> now you're jack kennedy? >> and tax cuts and auto bailout and those are big issues that got really heated between joe biden and paul ryan at last night's vice presidential debate so i immediately thoughthe person i would have to call on this to fact check it would be christine romans and she was available. thank you. so here's the deal. it just stands to reason that they both seem to say something with such confirmation in their voices and it's hard to say how this can be different. >> it's politics, my friend. talk taxes because i keep hearing this 20% across the board tax cut and then i hear the counterclaim, you can't pay for that. the math doesn't work. >> you can't make the math work. >> we have looked into this and the tax policy center says you can't make the math work. paul ryan's claim that you can cut it 20% across the board and keep it intact all of the while keeping it neutral and it says given the information available that we have about their plans is just not possible to cut that tax as much as
>> ronald reagan. >> now you're jack kennedy? >> and tax cuts and auto bailout and those are big issues that got really heated between joe biden and paul ryan at last night's vice presidential debate so i immediately thoughthe person i would have to call on this to fact check it would be christine romans and she was available. thank you. so here's the deal. it just stands to reason that they both seem to say something with such confirmation in their voices and it's hard to say...
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Oct 13, 2012
10/12
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. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of what we have now. kennedy's plan, enacted after his death, took the top marginal tax rate from 91% to 71% over a two-year period. lots of loopholes, but the growth argument, gdp rose by barely a percent during that time. isn't much when the economy was growing at a rate like china's, but the u.s. was at the time. they got a boost, but not much of one. ronald reagan's first big tax cut went into effect, and the economy did surge. economic growth went from 4.9% to north of 8%. year three, not so impressive. look at quarters, there were some drops. for perspective, today, the top marge call tax rate is 30%, not like are you at 70 or 90. can a r
. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of what we have now....
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. >> now you are ronald reagan. >> jack kennedy -- >> jack kennedy coming up in these debates. both men covered several elections. biden came off as rude he has never seen anything like this from any other candidate. >> what you saw while paul ryan was talking was smirking, laughing, smiling, mugging, by the vice president. and my sense about it was that it was so xheling people couldn't see the keep their eye off of it. i thought it was unattractive and rude and i have a feeling it will come across as rude. it looks like a cranky old man to some extent debating a polite young man. >> i think i have watched almost every presidential and vice presidential debate since the first four kennedy nixon debates since 1960 thinking back over the next few minutes i don't believe i have ever seen a debate when one participant was as openly disrespectful as the other as biden was to paul ryan. you can talk about the smirks the head shaking, it was con tenuous and disrespectful. >> that lead us to our brew on this question of the day. what did you think of the debate? send your comments via
. >> now you are ronald reagan. >> jack kennedy -- >> jack kennedy coming up in these debates. both men covered several elections. biden came off as rude he has never seen anything like this from any other candidate. >> what you saw while paul ryan was talking was smirking, laughing, smiling, mugging, by the vice president. and my sense about it was that it was so xheling people couldn't see the keep their eye off of it. i thought it was unattractive and rude and i have...
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ronald reagan -- >> oh, now you're jack kennedy? >> reporter: biden went right at ryan over mitt romney's controversial comments calling 47% of americans who don't pay income taxes irresponsible. >> the idea, if you heard that, that little sol little quill on 47%, you think he just made a mistake, then i got a bridge to sell you. >> i think the vice president very well knows sometimes the words don't come out of your mouth the right way. >> but i always say what i mean. >> reporter: when biden wasn't talking, he seemed oddly amused. by our count -- smiling or breaking out in laughter 92 separate times. expressive, often interrupting and occasionally personal. >> this is a bunch of stuff. look, here's the deal. >> what does that mean, a bunch of stuff? >> well, it means it's simply inaccurate. >> it's irish. >> it -- it is. we irish call it malarkey. >> thanks for the translation. >> reporter: and ryan needled ryan over the president's performance in last week's debate. >> i know you're under a lot of duress to make up for lost groun
ronald reagan -- >> oh, now you're jack kennedy? >> reporter: biden went right at ryan over mitt romney's controversial comments calling 47% of americans who don't pay income taxes irresponsible. >> the idea, if you heard that, that little sol little quill on 47%, you think he just made a mistake, then i got a bridge to sell you. >> i think the vice president very well knows sometimes the words don't come out of your mouth the right way. >> but i always say what i...
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>> ronald reagan. >> you are no jack kennedy, 24 years later. joe biden turned up the intensity after a lackluster debate performance at the top of the ticket. good morning. i'm willie geist and this is "way too early." in danville, kentucky, they were pressed from the moderator. some of the shorpest points of contrast came on the subject of iran's nuclear program and the two sides conflicting plans for medicare. the vice president made an effort to be engaged even when congressman ryan had the floor. unlike president obama, the vice president kept his eyes on his opponent smiling and shaking his head as the republican candidate attacked. >>> the hot topic of libya and the deadly assault in benghazi that killed four americans including the u.s. ambassador. president obama's deputy campaign manager suggested the only reason the obama's handling of the attack is because the republicans are talking about it on the campaign trail. she said that was reckless and irresponsib irresponsible. last night, ryan blasted the white house. >> it took the presi
>> ronald reagan. >> you are no jack kennedy, 24 years later. joe biden turned up the intensity after a lackluster debate performance at the top of the ticket. good morning. i'm willie geist and this is "way too early." in danville, kentucky, they were pressed from the moderator. some of the shorpest points of contrast came on the subject of iran's nuclear program and the two sides conflicting plans for medicare. the vice president made an effort to be engaged even when...
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ronald reagan's. with the limits that you are in a government where we are now looking at very few paying the freight for it we have to do something about that. >> i think we do. but let me tell you. powers at be are not in washington. as long as you are there, powers that be are in washington. >> i have you on the phone. >> enough said i got you on the phone. we talk about a simplified tax code and i think it is the way to go. >> i think that is what paul ryan should have said to joe biden. he voted for 50 to 28%. and the democrats led the fight over the years and kerry brown he wanted 100 percent to pay income tax at the exact same rate and came in second in the primary in 1992 in the democratic party. everyone knows you should have a low rate flat tax for economic growth and/or fairness. it is the right way to go. >> i'm sorry. but everyone having skin in the game. >> exactly. >> they are not looking at the poorest among us. but if you have a stake in the game you are interested in the game and you
ronald reagan's. with the limits that you are in a government where we are now looking at very few paying the freight for it we have to do something about that. >> i think we do. but let me tell you. powers at be are not in washington. as long as you are there, powers that be are in washington. >> i have you on the phone. >> enough said i got you on the phone. we talk about a simplified tax code and i think it is the way to go. >> i think that is what paul ryan should...
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the reason for that is, it was highest number since the one single debate ronald reagan had against jimmy carter in 1980. that is a famous year. that is the first time in 100 years republicans have taken out a sitting president. the presidential debate tied with clinton's debate with the first george bush in 1992, when the democrats took out an incumbent president. so i think there are a lot of people who are unhappy with oba but they just wanted to check out the challenger, make sure they're not leaping into something that they're not comfortable with. wow, romney's performance will make them very comfortable. melissa: everyone thought their guy won. they were like, my guy was awesome. isisn't that sort of, don't you think that was sort of the takeaway from everybody at home? of course you know, half thought it was one guy and half thought it was the other guy that really got it done? >> my, my sense of the debate was more that each side was presenting its policy positions and, i do think ryan looked like, a lovely young man who would not be off-putting to most people and it is not so mu
the reason for that is, it was highest number since the one single debate ronald reagan had against jimmy carter in 1980. that is a famous year. that is the first time in 100 years republicans have taken out a sitting president. the presidential debate tied with clinton's debate with the first george bush in 1992, when the democrats took out an incumbent president. so i think there are a lot of people who are unhappy with oba but they just wanted to check out the challenger, make sure they're...
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never jack kennedy lower tax rates increase growth brought already you're just getting ronald reagan you. know will leave that old thing to your judgment but we will say campaigning has come a long way since jack kennedy's era though he was part of a paradigm shift where candidates used t.v. to sway public opinion is as similarly powerful transformation now upon us our gas to victory lab the author of soft eisenberg says political campaigns have historically been resistant to innovation will tell us how this has changed and we often talk about algorithmic trading what about algorithmic campaigning oh yeah we'll talk about the data mining modeling and scientific techniques being used to win votes and get voters to polls in this election and just like in finance we'll talk about the challenges brought on by complexity plus the e.u. wins the nobel peace prize. we'll talk about it in loose change and respond to some of your viewer feedback let's get to today's capital account. last night was the veep debate in the us and if you pay attention to the message the commentary the fact checkin
never jack kennedy lower tax rates increase growth brought already you're just getting ronald reagan you. know will leave that old thing to your judgment but we will say campaigning has come a long way since jack kennedy's era though he was part of a paradigm shift where candidates used t.v. to sway public opinion is as similarly powerful transformation now upon us our gas to victory lab the author of soft eisenberg says political campaigns have historically been resistant to innovation will...
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. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to work with congress, that means specifically. >> no specific. >> what we're saying is lower tax rates 20%. >> and you guarantee this math will add up. >> six studies have guaranteed and said this math adds up. >> let me translate. >> i'll come back in a second, right? >> i was there when ronald reagan you gave tax rates, he gave specifics of what he would cut in terms of taxan expenditures. 90% of small businesses in america make less than 250,000. let me tell you who other small businesses are. hedge funds, that make $600, $800 million a year. that will count as small b
. >> look at what ronald reagan and tip o'neill did. they worked together to broaden the base and lower tax rates. what we're saying is, here is our frame work. lower taxes 20%. 1.1 million in loopholes and deductions. deny those loopholes and deductions to higher-income taxpayers so more income is taxed, which has a broader base of taxation. and here is why i'm saying this. what we're saying -- >> i hope i get time to respond to this? >> you will get time. >> we want to...
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>> ronald reagan -- >> biden trying to make a moment of his own capitalizing when ryan brought up jfk. >> this is a bunch of stuff. look, here's the deal. >> what does that mean, a bunch of stuff? >> it's irish. >> we irish call it malarkey. >> it all came down to, again, stuff in this light moment. >> joe and i are from similar towns. he's from scranton, pennsylvania, i'm in james, wisconsin. you know what the unemployment is in scranton? 10%. when you guys came in it's 8.5%. >> you don't read this. that's not how it's going. it's going down. >> look -- >> all right. you're going to hear more about the debate coming up throughout the day on msnbc. that is going to wrap up this hour of "jansing and company." i'm chris jansing. richard lui is in next. >> malarkey was my favorite. one of the top tweeted moments. >> unbelievable how much traction that got. >> have a good weekend. coming up this next hour, pardon the interruption, the vice president brings the heat with laughs, guffaws and jabs that some say in a debate too hot for congressman paul ryan. who won, who lost? joining me to t
>> ronald reagan -- >> biden trying to make a moment of his own capitalizing when ryan brought up jfk. >> this is a bunch of stuff. look, here's the deal. >> what does that mean, a bunch of stuff? >> it's irish. >> we irish call it malarkey. >> it all came down to, again, stuff in this light moment. >> joe and i are from similar towns. he's from scranton, pennsylvania, i'm in james, wisconsin. you know what the unemployment is in scranton? 10%....
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president carter lost to ronald reagan, president reagan lost his first debate to robert mondale. president bush lost his first debate to bill clinton and ross perot. next president bush lost his first debate to john kerry. so when president obama lost his first debate last week to his challenger, mitt romney, that outcome was totally in keeping with the sad, sad incumbent president tradition of getting creamed in their first debate. but what hat means for tonight is that the democrats are looking for a solid performance to try to stop the republican momentum, to try to quash the poll imbalance that romney and ryan have been enjoying since the debate last week even if stephanie cutter tried to tell us a minute ago there was so much bounce. to that end, chuck todd joins us from the debate site with new polling information out today. chuck, what do we know today, chuck? >> i think we know, look, there has been some movement in romney's direction. now, some of it is, i would say, if you look at everything we've learned over the last few days, in our polling, in ohio, florida, and vir
president carter lost to ronald reagan, president reagan lost his first debate to robert mondale. president bush lost his first debate to bill clinton and ross perot. next president bush lost his first debate to john kerry. so when president obama lost his first debate last week to his challenger, mitt romney, that outcome was totally in keeping with the sad, sad incumbent president tradition of getting creamed in their first debate. but what hat means for tonight is that the democrats are...
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Oct 12, 2012
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. >> first of all, i was there when ronald reagan gave specifics to what he was going to cut in terms of tax expenditures. 97% of small-business americans paid -- make less than $250,000. amid tell you who some of the other small businesses are. hedge funds that make a hundred million dollars a year. that is what they call as small business. gov. romney on 60 minutes about 10 days ago was asked, you pay 14% on $20 million. somebody making $50,000 face more than that. he said that is fair. that is fair. do you think these guys are going to go out there and cut the loopholes? the biggest loophole they take advantage of is the carriage entrance loophole and the capital gains loophole. the reason that the american enterprise study, the tax policy center study all say taxes will go up on the middle-class is it is the only way you can find at $5 trillion and loopholes as to cut the mortgage deduction for middle-class people, take away their ability to get a tax break to send their kids to college. >> is he wrong about that? >> he is wrong about that. and cut tax rates by 20% and still prese
. >> first of all, i was there when ronald reagan gave specifics to what he was going to cut in terms of tax expenditures. 97% of small-business americans paid -- make less than $250,000. amid tell you who some of the other small businesses are. hedge funds that make a hundred million dollars a year. that is what they call as small business. gov. romney on 60 minutes about 10 days ago was asked, you pay 14% on $20 million. somebody making $50,000 face more than that. he said that is fair....
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Oct 12, 2012
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. >> ronald reagan. >> twitter was all a twitter about that. the line generated 275 tweets a minute. kind of crazy. there's a noticeable reaction from the group of virginia undecided voters that i watched during the debate. you can see it blown up there at the bottom of the screen. but here's the problem. both kennedy and reagan were working in a different time and place, so to start with, when both kennedy and reagan took office, individual tax rates were not even in the ballpark of what we're dealing with now. they make france like like a low tax regime. kennedy's plan took the rate to 70% over a two-year period. lots of loopholes, but the growth argument, gdp rose during that time, but wasn't much when the economy was growing at a rate like china's, so they got a boost, but not much. as for reagan, his first big tax cut went into effect in 1981 and reduced the rate to 50%. over the first two years, the economy did surge. that's impressive. year three though, not so impressive. today, the top marginal tax rate is at 30%. not like you're at 70
. >> ronald reagan. >> twitter was all a twitter about that. the line generated 275 tweets a minute. kind of crazy. there's a noticeable reaction from the group of virginia undecided voters that i watched during the debate. you can see it blown up there at the bottom of the screen. but here's the problem. both kennedy and reagan were working in a different time and place, so to start with, when both kennedy and reagan took office, individual tax rates were not even in the ballpark...
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Oct 12, 2012
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. >> ronald reagan. >> middle class got knock ond their heels. the great recession crushed them. they need help now. >> next time you hear them say don't worry about it, we'll get wealthy people to pay their fair share. watch out, middle class, the tax bill is coming to you. >> greta: right now gets go to jamesville, wisconsin. his father and -- family and friends gathered to watch. so what did you think? the congressman's brother and sister-in-law, good evening to all of you. nice to see you. >> hi, greta. >> hi. >>. >> greta: tobin i've gotten word you just got off the phone and received first phone call and from your brother. what did he have to say? >> this is just like paul. he was interested in how our evening went. and he knew there are four 500 people here supporters with very, very loyal thoughts and he wanted to know our evening went and sure enough, a humble guy. he wanted feed back and i was very proud of him. very pleased with how he performed. >> greta: oakley did you get on the snon. >> no. i let tobin talk to his brother. >> greta: were you nervous oakley leading
. >> ronald reagan. >> middle class got knock ond their heels. the great recession crushed them. they need help now. >> next time you hear them say don't worry about it, we'll get wealthy people to pay their fair share. watch out, middle class, the tax bill is coming to you. >> greta: right now gets go to jamesville, wisconsin. his father and -- family and friends gathered to watch. so what did you think? the congressman's brother and sister-in-law, good evening to all...